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There’s no end in sight to XRP’s downtrend as transaction volume wanes


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11 hours ago, WuWei said:

 and that the current price will be meaningless over the long haul. As always, we'll see..... 

The notion that price doesn't matter of course is absurd. While I agree that over the long haul everything gets forgotten, consider this:

The whole business model of Ripple is based on prices and price calculations. Of course a higher token price increases liquidity and facilitates implementations whereas a lower and lower token price keeps away potential market makers and customers who'd bet on the future of this tech.

Still to this day it looks like no escrow sales. All that's taken from escrows is used by Ripple to get cash and grow the ecosystem. The day someone starts picking up escrow lots validates the whole project. And of course this will increase the price massively.

Add the many assurances given by Bradley that use cases matter... well, obviously they don't or what? Seems like coins having nothing but a whitepaper fare better overall?

I bet that a higher token price will accelerate adoption of Ripple tech. The low token price really is a stigma and big hinderance to make progress.

So yes, current price matters very much. Perhaps not to apologetic Ripple devotees - and believe me I understand their position.

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Idk if it's a fluke, but something's up this morning as the volume as seen on fiat leak has risen significantly, along with the price. A quick check of the crypto market reveals that while bitcoin is

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11 hours ago, panmores said:

I bet that a higher token price will accelerate adoption of Ripple tech. The low token price really is a stigma and big hinderance to make progress.

While I agree with much of what you say, I still believe that at the end of the day, it's the network development which will ultimately impact the price. With the enormous amount of "pre-mined" tokens, it seems apparent to me that Ripple's xrp is going to be judged more on demonstrated utility vs purely upon speculation."  XRP is going to have to prove itself as many are skeptical that either banks or governments are going to cede their control, and much of their power, to such a disruptor of the status quo. Once their global network has grown sufficiently, and has generated enough momentum, then the price will follow. This will increase the liquidity, which will in turn, as you say, accelerate adoption. At this point, it appears as if the market has decided to make Ripple's xrp prove its utility. 

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Glad I stopped investing in XRP long ago and went into way better performing cryptos. Still hodl some XRP and hope it will hit 1 USD or so one day. Lost hope that XRP will skyrocket again. ODL not performing as expected and most people will not even touch XRP anymore. This asset ist just dropping and dropping.

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On 7/8/2020 at 10:27 AM, thetamind said:

This didn't age well... 

Just zoom out a little... This is long term investment as anyone claims... so why look at 1 week chart?

On the other hand there's a lot of dumb money entering again. So I'm ready to jump in but for now I don't see sustained and utility growth (from 20mill$ to 3mill$ and price goes up doesn't ring any bells?).

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44 minutes ago, SquaryBone said:

from 20mill$ to 3mill$ and price goes up doesn't ring any bells?

So price in crypto assets is now suddenly influenced by utility instead of retail speculation?

Someone call Disney! because we have a good fairy tale here

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27 minutes ago, Dario_o said:

So price in crypto assets is now suddenly influenced by utility instead of retail speculation?

 

There's definitely better coins if you just want to follow retail speculation. XLM, BTC, ETH, ... Again: zoom a bit out and you'll get there. My point: yeah it might go up 15% now it might go down again 20% next week because it's based on nothing.

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On 7/13/2020 at 7:06 AM, SquaryBone said:

There's definitely better coins if you just want to follow retail speculation. XLM, BTC, ETH, ... Again: zoom a bit out and you'll get there. My point: yeah it might go up 15% now it might go down again 20% next week because it's based on nothing.

May as well add LINK in there as well. XLM, ETH are way more than just speculation. Of course they are all doing well right now while XRP circles the drain. Ripple has demonstrated X-Current works just fine without XRP.

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On 7/13/2020 at 12:49 PM, SquaryBone said:

Just zoom out a little... This is long term investment as anyone claims... so why look at 1 week chart?

when I zoom out I can only see one big pump and dump where the biggest xrp holder and their board members earned few billions on it

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XLM and XRP are very similar in nature. From what I have witnessed over the years with XLM having 100 billion market cap and very little exposure burning half the supply never really changes the value of the token at all. So in light of this,  anyone who says Ripple dumping 1 Billion tokens a month impacts price of the token is absolutely incorrect. It has been proven in many different digital assets such as Tron, XLM and I can't remember the others,  that burning or dumping tokens has absolutely zero impact on the current value of the token.  It's just an excuse for people to complain and point the finger at Ripple which has zero merit at this stage.

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10 hours ago, Kiwi said:

when I zoom out I can only see one big pump and dump where the biggest xrp holder and their board members earned few billions on it

Well that's when you are your emotional self. But the first part is basically true: there was a huge surge and then it went down to the pre-surge price. I believe it'll still go lower, hopefully to pre-escrow prices. The board members didn't earn a few billions and had nothing to do with it.

I do believe XRP price can go up again on utility but it'll take a long long time and already 3 years have passed. There might be another hype-moonboi-surge again before that. It's not the board members but "the community" that's mainly to blame for all the hype and misinformation (just have a look at Brad Kymes again telling that XRP was designed to represent "all the money" and it to be 10000$/XRP which were/are both denied by Ripple). These fraudulent "investment"-advisors are still out there spewing their crap daily.

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